Accounts Payable Process: Three-Way Match Accounting answers the basic question what is the three-way match and what are you supposed to match. The Three-Way Match is the foundation for the accounts payable function and sometimes the accounting function, as well. It involves matching quite a few issues such as price, quantity, etc.

Accounts payable and accounting best practices absolutely always include a three-way match. The accounts payable process, if it includes accounts payable best practices, also includes a three-way match. It is considered a strong #accountspayable internal controlsand all #accounting professionals recommend it. #threewaymatch

The three-way match concept is an old approach used in accounts payable departments across the country, or at least those that use accounts payable best practices. It involves comparing the purchase order vs invoice and the receiving document and is a strong accounts payable internal control.

Link to What You Need to Know to Work in Accounts Payablehttps://youtu.be/UGFaUkiNPP0 [260]

What do you match in the three way match in the accounts payable or accounting process? Are you looking to match the price or the quantity asked a podcast viewer? Both, I replied, and a lot more.